Data as a Service Market Size Worth $228.80 Billion By 2034 | CAGR: 28.6%

The global data as a service market size is expected to reach USD 228.80 billion by 2034, according to a new study by Polaris Market Research. The report “Data as a Service Market Share, Size, Trends, Industry Analysis Report, By Deployment (Public, Private, Hybrid); By Enterprise Size; By Industry; By Region; Segment Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rapid advancements in various social media platforms, a continuously rising 5G deployment rate, and an increasing number of e-commerce platforms or channels worldwide have led organizations to create high-prominence data and develops centralized channel of data flow, resulting in higher adoption of DaaS solutions to secure crucial business data and information from undesirable cyber-attacks. According to GSMA Intelligence, the number of 5G connections worldwide stood at over 1 billion at the end of 2022 and is forecasted to reach 2 billion connections by the end of 2025, while around 700 5G smartphones were available to users globally in January 2023.

The rising proliferation and prevalence of subscription-based pricing models in the market, which have allowed organizations to easily access the data they need without making large or significant upfront investments and also helping them to provide predictable pricing structures for the customers, has been creating ample growth or revenue opportunities in the recent years.

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With the emerging demand for real-time data solutions or services around the world, the need for the development of DaaS solutions that could deliver data in real-time or near approx. Real-time has grown drastically. As many businesses seek to make quicker decisions based on the most up-to-date and latest information available, the leading DaaS solution providers have started offering real-time data streaming and integration services to cater to the rising demand for these services and boost their revenue streams.

For example, in April 2023, Bluesky unveiled its new data-as-a-service offering named “GeoStream,” which is mainly designed to ensure that customers can access data when they need, without any limitations, and is available in two versions, including GeoStream Viewer and GeoStream Direct.

Data as a Service Market Report Highlights

• The public segment accounted for the largest share on account of the growing prevalence among companies to leverage advanced data security solutions
• Large segment held a significant share due to the rising adoption of cloud-based solutions by large organizations to manage data infrastructure efficiently
• The IT and telecommunication segment will grow at the highest growth rate because of the rising number of connected devices and greater proliferation of smartphone usage
• North America dominated the global market, owing to the region’s well-established and developed data infrastructure and continuous innovations in technologies
• The key market players include Hewlett Packard Enterprise, Microsoft Corporation, Oracle Corporation, Opera Solutions, and Accenture.

Polaris Market Research has segmented the data as a service market report based on deployment, enterprise size, industry, and region:

Data as a Service, Deployment Outlook (Revenue - USD Billion, 2020 - 2034)

• Public
• Private
• Hybrid

Data as a Service, Enterprise Size Outlook (Revenue - USD Billion, 2020 - 2034)

• Small
• Medium
• Large

Data as a Service, Industry Outlook (Revenue - USD Billion, 2020 - 2034)

• BFSI
• Government
• IT and Telecommunication
• Manufacturing
• Retail
• Others

Data as a Service, Regional Outlook (Revenue - USD Billion, 2020 - 2034)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Data as a Service Market Report Scope